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EV Tax Credit: What It Is, How It Works, and Do You Qualify? | The Federal EV Tax Credit Explained

You may have heard that the rules surrounding the federal tax credit for buying an EV have changed now that the Inflation Reduction Act is law. Lauren McCay of Edmunds explains everything you need to know about the new requirements, including the price limits on eligible vehicles, personal income thresholds for buyers, the new importance of where the vehicle was assembled, and the timing of your purchase as 2022 comes to an end. How do you know what vehicles qualify? And what about using the credit toward the purchase of a used EV? Lauren breaks it all down so you can do your best to take advantage of the federal tax credit of up to $7,500. How to Take Advantage of the New Federal EV Tax Credits: https://edmu.in/3imG4tc 00:00 Intro 00:55 What Changed? 01:29 Requirements 02:21 American Made 03:18 New EVs 03:57 Used EVs 04:53 Timing 05:37 Supply Limits 06:12 Do You Qualify? Subscribe to Edmunds https://www.youtube.com/user/edmundsv... for the latest car news, car reviews, car comparisons, car shopping and advice. Visit us! https://www.edmunds.com